Economics

The branch of economics that deals with the allocation of resources is:

• Macro economics

• Micro economics

• Econometrics

• Public finance

Micro economics uses which of the following methods?

• Lumping method

• Inclusive method

• Slicing method

• Comparative method

Concepts studied under macro economics are:

• Product pricing and cost

• Income and employment

• Individual firm behaviour

• Consumer equilibrium

In the law of diminishing marginal utility, Alfred Marshall assumes marginal utility of money:

• Increases

• Remain constant

• Falls

• First rises then falls

According to the law of diminishing marginal utility, utility is measured in:

• Ordinal terms

• Both ordinal and cardinal

• Cardinal terms

• Percentage

Which of the following is a correct pair?

• Micro economics - Aggregate supply

• Macro economics - Product pricing

• Micro economics - Factor pricing

• Macro economics - Individual firm behaviour

When Marginal Utility (MU) becomes negative, Total Utility (TU):

• Increases

• Becomes zero

• Falls

• Remain constant

Point of satiety means:

• TU is rising and MU is falling

• MU is falling and TU is rising

• TU is falling and MU is negative

• Tu is maximum and MU is zero

Kavita consumed five units of oranges one after another. This relates to:

• Consumer surplus

• Law of Equi-Marginal Utility

• Law of Diminishing marginal Utility

• Law of demand

Gauri collected income details of a firm. This represents:

• Macro Analysis

• Economic development

• Micro Analysis

• Budgeting